Target (NYSE:TGT) Announces Quarterly Earnings Results

Target (NYSE:TGT) issued its quarterly earnings results on Wednesday. The retailer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.07, Zacks reports. Target had a return on equity of 23.43% and a net margin of 3.72%.The company had revenue of $25.28 billion for the quarter, compared to analysts’ expectations of $25.44 billion. During the same period in the prior year, the firm earned $1.85 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Target updated its FY 2025 guidance to 7.000-8.000 EPS.

Target Stock Performance

Shares of Target stock opened at $88.78 on Wednesday. Target has a one year low of $85.36 and a one year high of $158.42. The company has a market capitalization of $40.34 billion, a PE ratio of 10.35, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The company has a 50-day simple moving average of $90.43 and a two-hundred day simple moving average of $96.09.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. Target’s dividend payout ratio (DPR) is currently 53.15%.

Analysts Set New Price Targets

Several research analysts have issued reports on TGT shares. UBS Group decreased their target price on shares of Target from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 21st. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Target in a research note on Monday, October 27th. Citigroup raised their price objective on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group decreased their target price on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Target presently has an average rating of “Hold” and an average price target of $108.55.

Institutional Investors Weigh In On Target

A number of large investors have recently modified their holdings of TGT. State Street Corp raised its holdings in shares of Target by 2.5% in the 3rd quarter. State Street Corp now owns 37,648,065 shares of the retailer’s stock worth $3,377,031,000 after purchasing an additional 911,964 shares during the period. Amundi grew its position in shares of Target by 38.6% during the third quarter. Amundi now owns 1,913,883 shares of the retailer’s stock worth $170,278,000 after buying an additional 533,416 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Target by 17.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,162,050 shares of the retailer’s stock worth $311,911,000 after buying an additional 461,495 shares during the last quarter. Caisse de depot et placement du Quebec raised its stake in Target by 1,593.8% during the third quarter. Caisse de depot et placement du Quebec now owns 439,839 shares of the retailer’s stock worth $39,454,000 after acquiring an additional 413,871 shares during the period. Finally, Jump Financial LLC lifted its stake in Target by 18,176.0% in the third quarter. Jump Financial LLC now owns 374,841 shares of the retailer’s stock valued at $33,623,000 after buying an additional 372,790 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.